Accounting For Your Franchise
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danbrobusiness.co.uk
“
Our ambition is to become the UK’s premier franchise accounting specialists. Our mission?
To help hard-working franchisors across the country to grow their businesses and achieve their dreams.
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Lara Hodkinson Head of Accounting Danbro Business Solutions
Contents Welcome to Danbro Business Solutions
4
Set Your Franchise Up For Success
5
Manage Your Network More Effectively
6
Harmonise Your Financial Information
7
The Benefits of One Franchise Accountant
8-9
Help Yourself by Helping Your Franchisees
10
Introducing Danbro Analytics
11-13
Benchmarking & Budgeting
14
The Access4Lofts Story
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16 - 17
danbrobusiness.co.uk • Page 3
Welcome to Danbro Business Your Business & Franchise Accounting Specialists. For almost a quarter of a century, we’ve been building successful, enduring relationships with thousands of companies from across the UK, delivering tangible results that have ensured compliance, improved performance and increased profitability.
Our unique approach blends the very best technology on the market with personal, practical accountancy that’s delivered by real people who care about the success of the businesses they work with.
We’re also a key part of the awardwinning Danbro Group, which was founded in Lancashire, in 1999, by Helen & Damian Broughton. Both Helen, our CEO, and Damian, our Executive Chairman, have gone on to earn MBEs for the service they’ve given to UK businesses.
Growing businesses is in our DNA.
Page 4 • danbrobusiness.co.uk
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Set Your Franchise Up For Success Are your franchisees pulling in different directions, following different advice from different accountants?
A divided franchise is an unproductive one. Your franchisees need to be working towards a common goal, with a specialist franchise accountant who can handle the demands of a national network.
That’s where we come in... At Danbro Business Solutions, we know what success looks like and, more importantly, how you and your franchisees can achieve it.
You will: • Be assigned a franchise accounting specialist & single point of contact.
• Get the reassurance you deserve with consistent, reliable financial data.
• Harness the power & precision of Danbro Analytics.
• Better understand your KPIs thanks to high-quality performance reports.
• Work smarter with sophisticated data & benchmarking analysis.
• Add value to your franchise network with professional coaching.
You can relax, knowing: • The amount you agree up front is the amount you pay; full stop. • You’ll benefit from tax support & independent financial advice. • You will increase productivity and improve profit margins.
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Manage Your Network More Effectively With Danbro Business’s sophisticated software, data-driven insights, and industry expertise you’ll be handed a detailed picture of your franchise network, so you can recognise what’s working and repair what’s not, and manage your network more effectively and more efficiently.
Unlock Your Franchise’s Potential • Real-time data & live updates from your smart phone • Cash flow & currency management • Company-wide & industry-wide benchmarking analysis • Supplier, customer & product analysis • KPI analysis & critical success factors • FOUR-way forecasting • Budget creation & analysis • Profit/loss monitoring • Set fees paid for at network level
Harmonise Your Financial Information Benefit from the harmonisation of your franchise’s financial data
Evaluate your franchisees’ performance with high-quality, real-time information – comparing data between branches.
Enjoy high-level KPI reporting on both financial & non-financial metrics based on key signifiers.
Make more impactful, meaningful decisions with a defined Chart of Accounts & network-level reports.
Simplify your processes with all franchisees following the same accounting & reporting structure (and using the same software).
Review your franchise’s finances in granular detail – either through a consolidated or individual view.
Improve efficiency, comparability & financial literacy – both at the network level & amongst your franchisees.
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danbrobusiness.co.uk • Page 7
1. Franchise. 1. Accountant. 0. Problems. Standardise financial reporting across your network with a comprehensive accounting service that streamlines your processes and consolidates your operations.
Here’s how having a single accountant could boost your business… • Centralise information & key decisions. • Standardise processes & software – safeguarding against malpractice. • Identify the highest (& lowest) performing franchisees to identify what’s working and address what’s not.
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• Enjoy consistent & customisable reporting. • Experience real-time analysis & economies of scale – network-wide. • Get tax, accounting & business coaching for your entire network.
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Our friends at Access4Lofts have mandated the use of Danbro Business as their accountants across their network of franchisees.
Additionally, we as franchisors have access to all our franchisees’ accounts too. We get bespoke reports that show us how our franchisees are performing against an average of others. This is extremely useful when carrying out our review meetings. We also approached Danbro Business to ask for reports based on profitability across the franchisee product range. Once again, they amended the accounts structure to provide this information. We’d have a mutiny on our hands if we told our franchisees they’d have to handle their own VAT returns, annual accounts, tax returns and payroll!
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We’ve moved our entire network of franchisees onto Danbro Business’s fully managed service. This means our franchisees are now only required to take photos of receipts on their smartphones and swipe across for it to get posted onto their accounts. This has been well received by our franchisees. It’s a big selling point for us as franchisors. Having all our franchisees using the same system has made critical information much more accessible. It’s also proved effective in helping us recruit new franchisees. We are a better franchise because of it.
danbrobusiness.co.uk • Page 9
Help yourself... We have a longstanding track record of delivering personal service and building enduring relationships with our franchise clients. And that doesn’t just apply to the franchisors, either.
by helping your franchisees... We’ve lost count of the amount of franchisees who feel they’ve been overlooked by previous providers, disregarded as cogs in a machine or, more accurately, branches in a corporation. But franchising is different. And we recognise that more than most. We understand that your franchisees are the lifeblood of your business. That’s why we’re committed to treating them as the creative, hardworking entrepreneurs they are; affording them the respect and dignity they deserve. No exceptions.
Your franchisees will have the support they need to: • Monitor their own KPIs like cash flow & profitability in real-time. • Track & compare performance against previous periods. • Track gross profit margins against forecasts and expectations. • Make more informed decisions on issues such as pricing & costing.
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• Reduce ‘bad’ debts with a real-time view of outstanding debtors & creditors. • View additional details on different revenue streams. • Identify areas for improvement both in their branch and across your network. • Exceed your expectations.
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Analytics Intelligent Insights. Smarter Decisions. Better Results. Danbro Analytics is a digital platform that gives you more control than ever before over your franchise’s data, performance metrics, and key financial results. Unleash the power and precision of Danbro Analytics today and benefit from even greater, real-time insights, to identify new opportunities and make smarter decisions. Advanced, Real-
Detailed Supplier,
Time Financial Info &
Customer & Product
Customisable Dashboards
Analysis
Bespoke Reporting
KPI Analysis incl.
with Integrated ‘Budget
Important Non-Financial
Building’
Data Metrics
Organisational Oversight
Profit / Loss Monitoring
& Multiple Consolidations
& Forecasts
+ Dozens More Amazing Features Depending On Your Chosen Plan!
• FREE Onboarding & 121 Technical Support. • Fully Automated Integration with Major Platforms:
Press to Watch
Analytics
Our Plans
Wave goodbye to guesswork and let Danbro Analytics give you the wings you need for a complete bird’s eye view of your business. Choose from our plans.
Performance
Premium
Performance helps you understand your business’s KPIs. Sales figures, revenue fluctuations, inventory levels, and profitability and growth projections are all accessible at the touch of a button, enabling more effective, on-the-move decision making.
Premium offers a fresh perspective on industry-wide benchmark analysis. It allows you to manage cash flow in realtime and provides insights on customer behaviour too, tracking things like avg. order values and client locations to ensure efforts are driven in the right areas.
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Enterprise
Ultimate
Enterprise is designed specifically for Franchisors. With company benchmarking, you can compare franchisee performance and explore areas for improvement across your network. You’ll also receive detailed compliance reports, VAT auditing and fraud detection, as standard.
Our Ultimate package is one of the most comprehensive business analytics solutions on the market. Ideal for national franchisors, Ultimate combines the entire Danbro Analytics suite with the industry-leading business intelligence systems provided by our friends at Fathom.
Fathom are trusted by over 50,000 companies worldwide and our unique collaboration with them gives you the ‘ultimate’ insight into your business’s performance, incl.: High-Level Growth, Trends & Profitability Analysis, Auditability Reports, and Strategic Forecasting. Please note: Fathom is only included with our Ultimate package.
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danbrobusiness.co.uk • Page 13
Benchmarking & Budgeting We deliver more than just surface-level numbers. You’ll get a detailed, digestible summary of the figures that really drive your revenue. Essentially, we’ll give you the tools you need to identify areas for improvement; resolve problems as they arise; implement better practices; and unlock your franchise’s potential.
Better Results Through Benchmarking Access high-level benchmark figures and targeted analysis to ensure your franchisees’ are achieving the standards you expect. With detailed, yet digestible, performance reports, you can quickly assess how well each franchisee is performing against your company standard. So, if one branch is doing particularly well, you’ll understand the reasons why and be able to implement better practices across your network – increasing productivity and driving performance.
Budgets & Forecasts Explore customer activity and profitability segments to recognise your top-selling products and services and budget and forecast accordingly. Get a detailed breakdown of your most crucial data, like income per customer, to better understand and evaluate your franchisees’ performance with highquality, real-time data. Our Analytics software will also help you predict future income with live balance monitoring and analysis of seasonal trends! And our ‘Audit’ segment serves as your company watchdog, helping you monitor the health and security of your business and detecting anomalies and fraud alerts with ease.
The result? More productivity and bigger profit margins.
Financial Planning for Franchisors Wealth Management
Retirement Planning
Independent Mortgage Advice
Insurance & Protection
Pensions & Investments
Wills & Estate Planning
danbrofinancial.co.uk
Danbro & Access4Lofts We started working with Access4Lofts back in January 2013 and it’s a relationship that’s blossomed ever since. So much so that the company now entrust us as their finance department and as their network-wide franchisee accountant.
‘We’ve moved our entire network of franchisees to Danbro Business’
All Access4Lofts franchisees receive: • One fixed, identical service from Danbro Business Solutions, comprising everything they need to succeed. • Free incorporation & on-boarding. Our service starts the very same day that they pay their franchise fee.
• A dedicated personal accountant and franchise specialist who also looks after all other franchisees in the A4L family. • Quarterly video review calls with their personal accountant.
• A fixed monthly fee – paid for by the franchisor.
• A standardised Chart of Accounts – for use network-wide.
• Weekly bookkeeping, as standard.
• Bespoke KPI dashboard.
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The Access4Lofts Story We caught up with Lindsay Brown, the Marketing Director at Access4Lofts, to find out how Danbro Business have helped her company become national leaders in their field. Setting up a franchise is challenging. We needed an accountant who would not only grow with us, but would ensure that we had a robust finance and accounting infrastructure.
We’re a better franchise because of Danbro Business Danbro Business have proved invaluable to our business. For example, as we use our CRM system for invoicing, Danbro Business developed a process to crosscheck and reconcile our QuickBooks accounts to the CRM invoices. This ensures that all invoiced income is now captured in the Management Service Fee. It’s very attractive to potential franchisees to know that they’ll have a cloud-based accounting system that’s integrated into our admin system. Especially one that can handle VAT returns, annual accounts, tax returns and payroll. Danbro Business understand what a franchise needs to grow. From day one, they’ve encouraged us to create the right finance and accounting infrastructure to avoid headaches in the future. Having all our franchisees using the same system has made critical information much more accessible. It’s also proved effective in helping us recruit new franchisees. We are a better franchise because of it.
Specialist. Structured. Supportive! The team at Danbro Business have been a constant source of help and advice for us. Because of our relationship with the people at Danbro Business, the decision to outsource to them was much easier. The system we have in place means that all the hassle of preparing our payment run is vastly reduced. Danbro Business understood what we were trying to achieve very early on and they’ve built robust systems, reports and management controls to facilitate our plans.
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danbrobusiness.co.uk • Page 17
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